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Acurx - CEO Luci interview -
The odds appear good for a partnership deal fairly soon, I'm figuring between now and the end of the year. Should be interesting -
Acurx - Luci interview -
The odds appear good for a partnership deal fairly soon, I'm figuring between now and the end of the year. Should be interesting -
>>> Palantir Technologies -- Shares of Palantir Technologies (NYSE: PLTR) are up 63% over the last year due to growing demand for its enterprise AI software platform. A growing number of U.S. companies are turning to Palantir to use AI models with their data, which could be the start of a long stretch of high growth.
https://finance.yahoo.com/news/2-monster-stocks-could-create-080500097.html
Palantir is used for a variety of use cases, including military operations, supply chain analysis, and investigating financial crimes. The U.S. government made up over half the company's revenue last quarter, which validates the capabilities of Palantir's technology, but government spending can also be a two-edged sword considering the potential for budget caps.
However, Palantir is starting to see momentum in diversifying away from the government. U.S. commercial revenue grew 40% year over year last quarter to $150 million and accounted for nearly a quarter of Palantir's business. Management expects U.S. commercial revenue to be up 45% in 2024 over 2023 and expects this segment to remain a significant growth driver over the long term.
Another positive indicator is that management is seeing a significant shortening in deal cycles. Some customers are signing deals just days after trying the product. To capitalize on the growing demand, management wants to broaden the market for its offering outside the U.S., in addition to state and local governments, researchers, and academic institutions.
It's clear Palantir has only just begun to tap its potential. The company reported a record net profit of $106 million in Q1 on $634 million of revenue, and Wall Street analysts currently expect the company to grow earnings at an annualized rate of 22% over the next several years.
As demand for AI software takes off over the next decade, Palantir shares should be a very rewarding holding for patient investors.
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>>> Palantir Technologies -- Shares of Palantir Technologies (NYSE: PLTR) are up 63% over the last year due to growing demand for its enterprise AI software platform. A growing number of U.S. companies are turning to Palantir to use AI models with their data, which could be the start of a long stretch of high growth.
https://finance.yahoo.com/news/2-monster-stocks-could-create-080500097.html
Palantir is used for a variety of use cases, including military operations, supply chain analysis, and investigating financial crimes. The U.S. government made up over half the company's revenue last quarter, which validates the capabilities of Palantir's technology, but government spending can also be a two-edged sword considering the potential for budget caps.
However, Palantir is starting to see momentum in diversifying away from the government. U.S. commercial revenue grew 40% year over year last quarter to $150 million and accounted for nearly a quarter of Palantir's business. Management expects U.S. commercial revenue to be up 45% in 2024 over 2023 and expects this segment to remain a significant growth driver over the long term.
Another positive indicator is that management is seeing a significant shortening in deal cycles. Some customers are signing deals just days after trying the product. To capitalize on the growing demand, management wants to broaden the market for its offering outside the U.S., in addition to state and local governments, researchers, and academic institutions.
It's clear Palantir has only just begun to tap its potential. The company reported a record net profit of $106 million in Q1 on $634 million of revenue, and Wall Street analysts currently expect the company to grow earnings at an annualized rate of 22% over the next several years.
As demand for AI software takes off over the next decade, Palantir shares should be a very rewarding holding for patient investors.
<<<
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>>> Palantir Technologies -- Shares of Palantir Technologies (NYSE: PLTR) are up 63% over the last year due to growing demand for its enterprise AI software platform. A growing number of U.S. companies are turning to Palantir to use AI models with their data, which could be the start of a long stretch of high growth.
https://finance.yahoo.com/news/2-monster-stocks-could-create-080500097.html
Palantir is used for a variety of use cases, including military operations, supply chain analysis, and investigating financial crimes. The U.S. government made up over half the company's revenue last quarter, which validates the capabilities of Palantir's technology, but government spending can also be a two-edged sword considering the potential for budget caps.
However, Palantir is starting to see momentum in diversifying away from the government. U.S. commercial revenue grew 40% year over year last quarter to $150 million and accounted for nearly a quarter of Palantir's business. Management expects U.S. commercial revenue to be up 45% in 2024 over 2023 and expects this segment to remain a significant growth driver over the long term.
Another positive indicator is that management is seeing a significant shortening in deal cycles. Some customers are signing deals just days after trying the product. To capitalize on the growing demand, management wants to broaden the market for its offering outside the U.S., in addition to state and local governments, researchers, and academic institutions.
It's clear Palantir has only just begun to tap its potential. The company reported a record net profit of $106 million in Q1 on $634 million of revenue, and Wall Street analysts currently expect the company to grow earnings at an annualized rate of 22% over the next several years.
As demand for AI software takes off over the next decade, Palantir shares should be a very rewarding holding for patient investors.
<<<
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>>> Why Booz Allen Hamilton Stock Is Sinking Today
by Lou Whiteman
Motley Fool
Jul 26, 2024
https://finance.yahoo.com/news/why-booz-allen-hamilton-stock-170740049.html
Government contractor Booz Allen Hamilton (NYSE: BAH) missed Wall Street's profit expectations for the quarter and set full-year profit guidance that underwhelmed expectations. Investors are looking elsewhere, sending Booz shares down 10% as of 12:30 p.m. ET.
Costs creep higher
Booz Allen Hamilton provides information technology and consulting services for civilian and military government customers. The company has outperformed the market over the past five years, and investors had big hopes coming into earnings season.
But Booz failed to deliver. The company earned $1.38 per share in its fiscal first quarter ended June 30, well short of the $1.52 per share Wall Street had expected. Revenue, at $2.94 billion, came in close to expectations.
The issue was costs. Headcount grew 7.7% year over year, but management said during the earnings call there was a gap between when the new hires came on and when they became billable under new contracts.
For the full fiscal year, Booz Allen sees earnings coming in at between $5.80 and $6.05 per share. That suggests some potential downside compared to Wall Street's $6.05-per-share expectation.
Is Booz Allen Hamilton a buy?
There is a lot to like in this report. Headcount tends to be a good indicator of future revenue, and Booz Allen said it booked $1.80 of new business in the quarter for every $1 it billed out. Overall, the company expects revenue to grow between 8% and 11% in its new fiscal year.
But the expenses are something to watch and the full-year guidance is not nearly as impressive as the numbers that Wall Street had hoped for.
Booz Allen Hamilton is a solid operator with strong connections inside some of the most important areas of the U.S. government and is set up well to be a long-term winner. But investors need to be on the lookout for further volatility until the market has more clarity about how fiscal 2025 is playing out.
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>>> Why Booz Allen Hamilton Stock Is Sinking Today
by Lou Whiteman
Motley Fool
Jul 26, 2024
https://finance.yahoo.com/news/why-booz-allen-hamilton-stock-170740049.html
Government contractor Booz Allen Hamilton (NYSE: BAH) missed Wall Street's profit expectations for the quarter and set full-year profit guidance that underwhelmed expectations. Investors are looking elsewhere, sending Booz shares down 10% as of 12:30 p.m. ET.
Costs creep higher
Booz Allen Hamilton provides information technology and consulting services for civilian and military government customers. The company has outperformed the market over the past five years, and investors had big hopes coming into earnings season.
But Booz failed to deliver. The company earned $1.38 per share in its fiscal first quarter ended June 30, well short of the $1.52 per share Wall Street had expected. Revenue, at $2.94 billion, came in close to expectations.
The issue was costs. Headcount grew 7.7% year over year, but management said during the earnings call there was a gap between when the new hires came on and when they became billable under new contracts.
For the full fiscal year, Booz Allen sees earnings coming in at between $5.80 and $6.05 per share. That suggests some potential downside compared to Wall Street's $6.05-per-share expectation.
Is Booz Allen Hamilton a buy?
There is a lot to like in this report. Headcount tends to be a good indicator of future revenue, and Booz Allen said it booked $1.80 of new business in the quarter for every $1 it billed out. Overall, the company expects revenue to grow between 8% and 11% in its new fiscal year.
But the expenses are something to watch and the full-year guidance is not nearly as impressive as the numbers that Wall Street had hoped for.
Booz Allen Hamilton is a solid operator with strong connections inside some of the most important areas of the U.S. government and is set up well to be a long-term winner. But investors need to be on the lookout for further volatility until the market has more clarity about how fiscal 2025 is playing out.
<<<
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>>> Why Booz Allen Hamilton Stock Is Sinking Today
by Lou Whiteman
Motley Fool
Jul 26, 2024
https://finance.yahoo.com/news/why-booz-allen-hamilton-stock-170740049.html
Government contractor Booz Allen Hamilton (NYSE: BAH) missed Wall Street's profit expectations for the quarter and set full-year profit guidance that underwhelmed expectations. Investors are looking elsewhere, sending Booz shares down 10% as of 12:30 p.m. ET.
Costs creep higher
Booz Allen Hamilton provides information technology and consulting services for civilian and military government customers. The company has outperformed the market over the past five years, and investors had big hopes coming into earnings season.
But Booz failed to deliver. The company earned $1.38 per share in its fiscal first quarter ended June 30, well short of the $1.52 per share Wall Street had expected. Revenue, at $2.94 billion, came in close to expectations.
The issue was costs. Headcount grew 7.7% year over year, but management said during the earnings call there was a gap between when the new hires came on and when they became billable under new contracts.
For the full fiscal year, Booz Allen sees earnings coming in at between $5.80 and $6.05 per share. That suggests some potential downside compared to Wall Street's $6.05-per-share expectation.
Is Booz Allen Hamilton a buy?
There is a lot to like in this report. Headcount tends to be a good indicator of future revenue, and Booz Allen said it booked $1.80 of new business in the quarter for every $1 it billed out. Overall, the company expects revenue to grow between 8% and 11% in its new fiscal year.
But the expenses are something to watch and the full-year guidance is not nearly as impressive as the numbers that Wall Street had hoped for.
Booz Allen Hamilton is a solid operator with strong connections inside some of the most important areas of the U.S. government and is set up well to be a long-term winner. But investors need to be on the lookout for further volatility until the market has more clarity about how fiscal 2025 is playing out.
<<<
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NY Times - 'Netanyahu goes rogue' -
>>> Netanyahu, Defiant, Appears to Have Gone Rogue, Risking a Regional War
The New York Times
by Steven Erlanger
August 2, 2024
https://www.yahoo.com/news/netanyahu-defiant-appears-gone-rogue-181538517.html
As the Biden administration and its allies try to secure an elusive cease-fire in the Gaza Strip, Israel appears to have gone rogue.
Benjamin Netanyahu, Israel’s prime minister, came to Washington last week to give a defiant speech. Despite international condemnation, he vowed to continue the war against Hamas in Gaza and the West Bank, where Israel is killing and imprisoning scores of Palestinians each week, without any clear idea of its endgame.
The assassinations of senior Hezbollah and Hamas figures abroad have now sharply raised the risks of a larger regional war as Iran, Hamas and Hezbollah prepare retaliation, analysts say.
But the deaths of Fouad Shukur, a senior Hezbollah commander, and Ismail Haniyeh, the political leader of Hamas, will not change the strategic quandary Israel faces over how to end the war, govern Gaza or care for the civilians there. They are more likely to intensify the conflict than diminish it, making progress on a Gaza cease-fire even more difficult.
Israel says it does not want to occupy Gaza, but it has no other solution to provide order; Hamas refuses to surrender, despite the thousands of dead. While Washington sees a cease-fire followed by a regional deal as an answer, Netanyahu is contemptuous of the idea. He believes only force will compel Hamas to concede and restore Israel’s strategic deterrence toward Iran and its proxies, especially Hezbollah.
Absent a clear goal in the war, however, Netanyahu’s defiance is dividing Israel from its allies and the country itself. It has further shaken trust in his leadership. It is fueling suspicions that he is keeping the country at war to keep himself in power. It is intensifying a deep rift inside the society — about the fate of Israeli hostages, the conduct of the war and the rule of law — that is challenging the institutional bonds that hold Israel together.
“Israel’s international image continues to take hits since October — despite nine months of war, its military objectives are unmet, and its reputation socially and domestically is also damaged,” said Sanam Vakil, a Middle East analyst at Chatham House.
To form a government and stay in power, Netanyahu has empowered deeply religious, pro-settlement far-right politicians who oppose a Palestinian state of any kind. He has given powerful roles to Itamar Ben-Gvir, a convicted criminal, who now heads the police and is influential in how the West Bank is run, and to Bezalel Smotrich, the finance minister.
Both men have moved to weaken the Palestinian Authority, support expanding settlements in the West and oppose any deal with Hamas — while putting their own followers into key positions in the Israeli bureaucracy.
They represent a populist revolt against the country’s traditional democratic ethos and institutions, including the army and the judiciary. Much like Donald Trump, Netanyahu, despite his long period in power, rides that anti-elitist wave, arguing that he is the only politician who can stand up to the United States and the United Nations and prevent a sovereign Palestine dominated by Hamas.
“We’re in a very dangerous process that can cast a shadow over the basic DNA of this country,” said Nahum Barnea, one of Israel’s most prominent journalists and commentators. “Cultural confrontation is fine, but not so fine with politicians who are messianic or radical populists and not only become part of the government but hold crucial posts there.”
The far-right politicians have an agenda, he said: “They want a real revolution in our regime and in our values.”
The most visible recent example came this week, when protesters massed outside two military bases to support soldiers who had been arrested on suspicion of torturing and sodomizing a Palestinian prisoner at Sde Teiman, a military jail.
Hundreds of protesters, including at least three far-right legislators from the ruling coalition and soldiers in uniform, gathered outside that jail and a second base where the men had been brought for interrogation. Dozens of protesters surged into both bases, brushing aside guards, while Ben-Gvir’s police forces arrived late and in small numbers.
Hours later, Netanyahu criticized the protests, but he also seemed to justify them, comparing them to the months of anti-government demonstrations against his effort to diminish the power of the judiciary and the Supreme Court in favor of parliament.
“State institutions are being challenged even by people in uniform,” said Natan Sachs, the Israeli American director of the Center for Middle East Policy at Brookings, a centrist research institution. “It’s a symptom of something very worrying, a challenge not just to the institutions but to the connective tissue of a society that has always been closely knit despite its fissures.”
“People are very much on edge,” said Shalom Lipner, a former prime ministerial aide from 1990 to 2016 and senior fellow at the Atlantic Council, also a centrist research institution. “And not just about how others look at Israel, but Israelis themselves are frightened about what this means for the country itself. If this is how we behave, how is this project sustainable?”
To be sure, while a sizable majority of Israelis want Netanyahu and his far-right coalition gone, a sizable majority also wants Hamas defeated and dismantled as the power in Gaza, to ensure that what happened on Oct. 7 can never happen again. There is widespread agreement that Israel must remain strong and has the right to attack its stated enemies.
But there is inevitable disagreement about the best way to attain a more lasting peace, with many fearing that an independent Palestinian state of the kind the Israeli elite had hoped to negotiate would be dominated by more extreme factions, like Hamas.
The revolt against the elites has been building for years. It was most visible in the proposed new law that would have diminished the power of the judiciary system and the Supreme Court in favor of parliament, which prompted nine months of street protests and highlighted the divisions in the country.
The Hamas attacks on Oct. 7 pulled the country together, even as they absorbed the shock of a massive failure of the intelligence services and the military, largely sacred institutions. But the long war has also pulled the country apart, with the far right trying to weaken key institutions and infiltrate them. Discipline in the army has also suffered.
And even as the army leadership tries to maintain its standards, Ben-Gvir and Smotrich label those who want to punish the abusers of Palestinian prisoners as traitors.
Although representing a minority, the two men have become the face of Israel to the world nearly as much as Netanyahu, his own image tainted by his political dependency on them and his toleration of their actions and excesses.
There has always been a tension between the rule of law and Israel’s security and counterterrorism operations, said Dahlia Scheindlin, an Israeli pollster and analyst.
“Israelis have become habituated to the idea that law is selective,” she said. “There are too many who are above the law, like the settlers, who are beyond the law, like the ultra-Orthodox and the security forces, and who are pushed out of the law, like the Palestinians and many Arab citizens of Israel, who are often under martial law.”
The protests at the military bases were the “closest I’ve ever experienced to state breakdown,” Scheindlin said, calling the internal divisions on display a victory for Hamas and Hezbollah.
There are many Israelis “who have no belief in diplomacy but think of Israeli security only in terms of preemption, intimidation and deterrence, and who think that they must always have the back of the military in the face of an implacable cruel enemy you’re always confronting,” said Bernard Avishai, an Israeli American analyst. “So anything you do to the enemy is justified.”
There were violent protests by settlers and the right against the army in 2005 over the forced withdrawal of Israelis from settlements in Gaza and the West Bank. But many Israelis point to a later controversial episode as the real turning point for the country.
In 2016, an Israeli soldier, Elor Azaria, killed an incapacitated Palestinian who had attacked an Israeli with a knife. Despite angry protests, he was convicted of manslaughter, but he served only half of his 18-month sentence. He was considered a hero by people on the right, while those on the left argued he deserved a harsher sentence.
Azaria has since supported soldiers accused of beating Palestinian prisoners and has been the target of sanctions imposed by the United States.
“After Azaria, the lines were drawn,” Avishai said. Settlers and those who favor force over diplomacy were mobilized against “the statists,” like the military chiefs and the current minister of defense, Yoav Gallant, “who feel that national morale is a function of the rule of law and that the army must observe international law,” he said.
The statist view is “disappearing under Netanyahu, and the cultural war is fundamental now,” he said. “A continuing war of attrition and preemption in Gaza and elsewhere is good for them politically.”
In the protests on Monday, he said, “for the first time you have violence between these two rival conceptions of Israel’s future.”
<<<
---
>>> Netanyahu, Defiant, Appears to Have Gone Rogue, Risking a Regional War
The New York Times
by Steven Erlanger
August 2, 2024
https://www.yahoo.com/news/netanyahu-defiant-appears-gone-rogue-181538517.html
As the Biden administration and its allies try to secure an elusive cease-fire in the Gaza Strip, Israel appears to have gone rogue.
Benjamin Netanyahu, Israel’s prime minister, came to Washington last week to give a defiant speech. Despite international condemnation, he vowed to continue the war against Hamas in Gaza and the West Bank, where Israel is killing and imprisoning scores of Palestinians each week, without any clear idea of its endgame.
The assassinations of senior Hezbollah and Hamas figures abroad have now sharply raised the risks of a larger regional war as Iran, Hamas and Hezbollah prepare retaliation, analysts say.
But the deaths of Fouad Shukur, a senior Hezbollah commander, and Ismail Haniyeh, the political leader of Hamas, will not change the strategic quandary Israel faces over how to end the war, govern Gaza or care for the civilians there. They are more likely to intensify the conflict than diminish it, making progress on a Gaza cease-fire even more difficult.
Israel says it does not want to occupy Gaza, but it has no other solution to provide order; Hamas refuses to surrender, despite the thousands of dead. While Washington sees a cease-fire followed by a regional deal as an answer, Netanyahu is contemptuous of the idea. He believes only force will compel Hamas to concede and restore Israel’s strategic deterrence toward Iran and its proxies, especially Hezbollah.
Absent a clear goal in the war, however, Netanyahu’s defiance is dividing Israel from its allies and the country itself. It has further shaken trust in his leadership. It is fueling suspicions that he is keeping the country at war to keep himself in power. It is intensifying a deep rift inside the society — about the fate of Israeli hostages, the conduct of the war and the rule of law — that is challenging the institutional bonds that hold Israel together.
“Israel’s international image continues to take hits since October — despite nine months of war, its military objectives are unmet, and its reputation socially and domestically is also damaged,” said Sanam Vakil, a Middle East analyst at Chatham House.
To form a government and stay in power, Netanyahu has empowered deeply religious, pro-settlement far-right politicians who oppose a Palestinian state of any kind. He has given powerful roles to Itamar Ben-Gvir, a convicted criminal, who now heads the police and is influential in how the West Bank is run, and to Bezalel Smotrich, the finance minister.
Both men have moved to weaken the Palestinian Authority, support expanding settlements in the West and oppose any deal with Hamas — while putting their own followers into key positions in the Israeli bureaucracy.
They represent a populist revolt against the country’s traditional democratic ethos and institutions, including the army and the judiciary. Much like Donald Trump, Netanyahu, despite his long period in power, rides that anti-elitist wave, arguing that he is the only politician who can stand up to the United States and the United Nations and prevent a sovereign Palestine dominated by Hamas.
“We’re in a very dangerous process that can cast a shadow over the basic DNA of this country,” said Nahum Barnea, one of Israel’s most prominent journalists and commentators. “Cultural confrontation is fine, but not so fine with politicians who are messianic or radical populists and not only become part of the government but hold crucial posts there.”
The far-right politicians have an agenda, he said: “They want a real revolution in our regime and in our values.”
The most visible recent example came this week, when protesters massed outside two military bases to support soldiers who had been arrested on suspicion of torturing and sodomizing a Palestinian prisoner at Sde Teiman, a military jail.
Hundreds of protesters, including at least three far-right legislators from the ruling coalition and soldiers in uniform, gathered outside that jail and a second base where the men had been brought for interrogation. Dozens of protesters surged into both bases, brushing aside guards, while Ben-Gvir’s police forces arrived late and in small numbers.
Hours later, Netanyahu criticized the protests, but he also seemed to justify them, comparing them to the months of anti-government demonstrations against his effort to diminish the power of the judiciary and the Supreme Court in favor of parliament.
“State institutions are being challenged even by people in uniform,” said Natan Sachs, the Israeli American director of the Center for Middle East Policy at Brookings, a centrist research institution. “It’s a symptom of something very worrying, a challenge not just to the institutions but to the connective tissue of a society that has always been closely knit despite its fissures.”
“People are very much on edge,” said Shalom Lipner, a former prime ministerial aide from 1990 to 2016 and senior fellow at the Atlantic Council, also a centrist research institution. “And not just about how others look at Israel, but Israelis themselves are frightened about what this means for the country itself. If this is how we behave, how is this project sustainable?”
To be sure, while a sizable majority of Israelis want Netanyahu and his far-right coalition gone, a sizable majority also wants Hamas defeated and dismantled as the power in Gaza, to ensure that what happened on Oct. 7 can never happen again. There is widespread agreement that Israel must remain strong and has the right to attack its stated enemies.
But there is inevitable disagreement about the best way to attain a more lasting peace, with many fearing that an independent Palestinian state of the kind the Israeli elite had hoped to negotiate would be dominated by more extreme factions, like Hamas.
The revolt against the elites has been building for years. It was most visible in the proposed new law that would have diminished the power of the judiciary system and the Supreme Court in favor of parliament, which prompted nine months of street protests and highlighted the divisions in the country.
The Hamas attacks on Oct. 7 pulled the country together, even as they absorbed the shock of a massive failure of the intelligence services and the military, largely sacred institutions. But the long war has also pulled the country apart, with the far right trying to weaken key institutions and infiltrate them. Discipline in the army has also suffered.
And even as the army leadership tries to maintain its standards, Ben-Gvir and Smotrich label those who want to punish the abusers of Palestinian prisoners as traitors.
Although representing a minority, the two men have become the face of Israel to the world nearly as much as Netanyahu, his own image tainted by his political dependency on them and his toleration of their actions and excesses.
There has always been a tension between the rule of law and Israel’s security and counterterrorism operations, said Dahlia Scheindlin, an Israeli pollster and analyst.
“Israelis have become habituated to the idea that law is selective,” she said. “There are too many who are above the law, like the settlers, who are beyond the law, like the ultra-Orthodox and the security forces, and who are pushed out of the law, like the Palestinians and many Arab citizens of Israel, who are often under martial law.”
The protests at the military bases were the “closest I’ve ever experienced to state breakdown,” Scheindlin said, calling the internal divisions on display a victory for Hamas and Hezbollah.
There are many Israelis “who have no belief in diplomacy but think of Israeli security only in terms of preemption, intimidation and deterrence, and who think that they must always have the back of the military in the face of an implacable cruel enemy you’re always confronting,” said Bernard Avishai, an Israeli American analyst. “So anything you do to the enemy is justified.”
There were violent protests by settlers and the right against the army in 2005 over the forced withdrawal of Israelis from settlements in Gaza and the West Bank. But many Israelis point to a later controversial episode as the real turning point for the country.
In 2016, an Israeli soldier, Elor Azaria, killed an incapacitated Palestinian who had attacked an Israeli with a knife. Despite angry protests, he was convicted of manslaughter, but he served only half of his 18-month sentence. He was considered a hero by people on the right, while those on the left argued he deserved a harsher sentence.
Azaria has since supported soldiers accused of beating Palestinian prisoners and has been the target of sanctions imposed by the United States.
“After Azaria, the lines were drawn,” Avishai said. Settlers and those who favor force over diplomacy were mobilized against “the statists,” like the military chiefs and the current minister of defense, Yoav Gallant, “who feel that national morale is a function of the rule of law and that the army must observe international law,” he said.
The statist view is “disappearing under Netanyahu, and the cultural war is fundamental now,” he said. “A continuing war of attrition and preemption in Gaza and elsewhere is good for them politically.”
In the protests on Monday, he said, “for the first time you have violence between these two rival conceptions of Israel’s future.”
<<<
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Bigworld, >> miners get taken down with the rest of the market <<
Yes, that also happened to the miners during the 2008 and 2020 stock market meltdowns, with bullion dropping too, so neither were a good hedge in the short term. though they turned around fast during the recovery phase.
Btw, I picked up a little more SPY this morning to take advantage of the relative bargains, but am leery since a lot could happen over the weekend and next week. 'US bombs Iran' is a real possibility, but will depend on how far Netanyahu & Co can push things. Imo, Biden needs to tell Bibi to f**** off.
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Bigworld, Here's a recent interview with Whitney Webb (below). She details the extensive Peter Thiel connections to JD Vance and also to Trump. It's hard to deny her conclusion that US politics has long been a controlled 'Uni-Party' -
(interview starts ~ 9:00)
Bigworld, The Middle East mayhem is the biggest problem right now. The US media is trying to play up the increase in US unemployment as the cause for this sudden global stock market meltdown, while ignoring the Middle East lunacy. But objectively, it looks like Netanyahu has decided to 'go for it', and try to force the 'US bombs Iran' scenario.
Several factors at work -- Iran is reportedly very close to getting a nuclear weapon, or may already have one, so Netanyahu is desperate and in a race against time. He tried to gin up the 'US bombs Iran' scenario back in April, but Biden refused, forcing Netanyahu to pin his hopes on 2025 and a Rep administration full of Neocons. However, recent events have changed his analysis --> the Trump assassination attempt, and Biden dropping out of the race. Odds have increased that Trump might be gone, therefore no Rep administration is coming. With Biden, Netanyahu & Co at least has some blackmailing leverage (the VP payola), but with his replacement Harris, he won't have that leverage. So out of desperation Netanyahu decides to 'go for it' now.
The big questions are - 1) will Iran take the bait and retaliate big against Israel / US interests, and then - 2) will Biden finally go along with the 'US bombs Iran' scheme? Netanyahu has provided the provocations, so now the ball is in Iran's court, and we should see their response sometime this weekend.
Wildcards include the fact that Iran has only limited control over what its so-called 'proxies' do (Hezbollah, Hamas, Houthis, etc). We already know that Hamas has received funding from Israel for many years (see the NY Times article), with many of its top leadership bought off by bribes funneled through Qatar. The Houthis have long been suspected of being a quasi US/West vehicle used to foment regional trouble against the Saudis, blamed on Iran, and thus driving a perpetual wedge between the Saudis and Iran. We also know ISIS has been supported by the US/West, as was the Muslim Brotherhood by the British in earlier periods. So just because Iran wants to avoid the 'US bombs Iran' scenario, it doesn't mean their 'proxies' won't do something massive to force the US into a major war with Iran. What would it take? A US naval ship getting hit in the region would do it.
But who knows. Hopefully Biden refuses to take the bait, as do the Iranians, and things can cool down again, as happened in April. Then Israel calls for elections to replace Netanyahu, and Benny Gantz is elected and some sanity returns. In the US, Trump is elected and ends the madness in Ukraine. WW 3 is averted, and the world can return to some semblance of normal. This could just be wishful thinking though.
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Xena, >> Spirit and prayer <<
Nothing wrong with that. One of religion's primary roles is to provide some meaning and comfort in an otherwise uncertain / messed up world.
From my own viewpoint - on the analytical side, by studying biology, the 'intelligent design' aspect is extremely obvious, so logic says there is a 'Creator / designer'. But beyond that there isn't much evidence that this Creator actively intervenes in our individual affairs, at least not much, and instead has set things up to run on autopilot. But not very comforting.
Objectively, the ancient religions seem more true to our reality, with a wrathful or capricious God that would periodically send down floods, plagues, famines. In contrast, Christianity has a God of love, compassion, and forgiveness, so a much more attractive proposition, and as a religion it became wildly popular.
Btw, there's a very interesting theory on the origins of Christianity from Joseph Atwill (author of 'Caesar's Messiah'). The Romans were having so much trouble controlling Judea (the 3 Jewish Wars), they came up with a plan to 'chill out' the region by introducing a new softer religion based on love, forgiveness, compassion. Josephus, the Jewish 'court historian' for the Romans, was the primary architect in designing the new religion. While it wasn't effective in pacifying Judea, it eventually took off and became the state religion for the late Roman Empire (beginning with Constantine) and the eastern Byzantine Empire, as well as the western Holy Roman Empire, up to today. So arguably the most successful religion of all time. The Roman leadership especially liked the 'pay unto Caesar' part, and the big draw for the public was the 'love, forgiveness, compassion' aspect. And the rest is history.
Josephus -
https://en.wikipedia.org/wiki/Josephus
---
Xena, Yes that's true, but the genetic aspects are touted as a main justification for the Ashkenazi's claim to Israel, ie their being 'descendants of Abraham'.
In another post you ask - >>> Is Zionism actually Satanism in disguise? <<<
This gets into Sabbatean Frankism and its 'antinomian' aspects, ie the deliberate breaking of all religious commandments. Followers of Zevi and Frank were encouraged to break every moral law. So 'fasting days' became 'feasting days', wild orgies were encouraged, etc. This movement was hugely popular in Europe, and continued to be among the ruling elites (and today?) Hence the connection to Satanism and Crowley's 'do what thou wilt'.
Sabbatai Zevi -
https://en.wikipedia.org/wiki/Sabbatai_Zevi
Sabbateans -
https://en.wikipedia.org/wiki/Sabbateans
Jacob Frank -
https://en.wikipedia.org/wiki/Jacob_Frank
Frankism -
https://en.wikipedia.org/wiki/Frankism
---
Xena, Not sure if you are familiar with this research on the Ashkenazis becoming Jewish via a mass religious conversion of the Khazarian Empire to Judaism (see below). It's a touchy subject among scholars, but the historical foundation for the theory is there. The Sephardim on the other hand, are mainly from the original Jewish diaspora. With the Ashkenazis, while there were some diaspora Jews within the Khazarian Empire prior to the mass conversion, the vast majority became 'Jewish' via the conversion decree. This is very controversial since it means that the bulk of European Jewry would have basically zero genetic link to the original Israelites.
Khazar hypothesis of Ashkenazi ancestry -
https://en.wikipedia.org/wiki/Khazar_hypothesis_of_Ashkenazi_ancestry
Khazars -
https://en.wikipedia.org/wiki/Khazars
---
>>> Scientists Found Heavy Metals Like Lead In Many Chocolate Bars. Should Consumers Be Worried?
Forbes
by Robert Hart
7-31-24
https://www.msn.com/en-us/health/nutrition/scientists-found-heavy-metals-like-lead-in-many-chocolate-bars-should-consumers-be-worried/ar-BB1qYHlw?ocid=BingNewsSerp
Many dark chocolate and cocoa products sold across the country contain levels of toxic heavy metals that exceed food safety guidelines, according to new research published Wednesday—and while the food industry and researchers involved said the findings should not stop people from eating chocolate, experts said it warrants further scrutiny.
Key Facts
Researchers from George Washington University and ConsumerLab, a company that tests foods and supplements, examined the amount of lead, cadmium and arsenic in more than 70 dark chocolate and cocoa products purchased from retailers including Amazon, GNC and Whole Foods Market over 8 years.
Their results, published in the peer reviewed journal Frontiers of Nutrition, revealed 43% of products exceeded acceptable levels of lead per serving and 35% exceeded acceptable levels of cadmium, according to California’s stringent food guidelines.
The state’s guidelines are often used by researchers as a conservative safety benchmark when investigating heavy metal contamination in foods, as the Food and Drug Administration does not set limits for toxins including cadmium and arsenic and for others like lead may only do so for specific products like candy or baby food.
None of the products tested exceeded California’s maximum level for arsenic and almost all products—70 out of 72, or 97%—had levels of lead that fell below FDA limits for the metal.
The researchers said the heavy metals found in the chocolate are unlikely to “pose any appreciable risk” when consumed as a single serving but could be “potentially problematic” if multiple servings are consumed or they are eaten with other products that may contain heavy metals such as teas or spices.
The study is the latest research to suggest some popular chocolate brands contain heavy metals, including studies by Consumer Reports.
In an emailed statement, the National Confectioners Association told Forbes “chocolate and cocoa are safe to eat and can be enjoyed as treats as they have been for centuries,” adding that “food safety and product quality remain” the organization’s “highest priorities.”
What Brands Of Chocolate Contain Heavy Metals?
It’s not clear what brands of dark chocolate and cocoa products had what levels of heavy metals in the study as the researchers intentionally left the information out of the study. The products tested are likely to be well known to consumers, however, and the researchers said their aim was to assess heavy metal contamination in “the most popular cocoa-containing consumer products each year for several years to assess trends,” using consumer surveys to assess popularity.
Should I Stop Eating Chocolate?
In short, no. According to the researchers, the amount of heavy metals found in the chocolate studied is unlikely to be “biologically significant” on its own, especially as most people are likely to consume the products relatively infrequently and in small amounts. The findings do suggest a need for better food standards and guidelines when it comes to heavy metal contamination, they said. “Enhanced surveillance may be warranted,” as well, the researchers added, particularly given the presence of outliers in the study with particularly high levels of contamination. Further research into the potential impact of multiple streams of food contamination should also be conducted, the researchers said, as it’s possible there may be “additive exposure” that is problematic from multiple food sources.
Can I Avoid Heavy Metal Exposure In Food?
Also no. “You actually cannot avoid exposure to heavy metals in the diet,” Leigh Frame, the study’s lead author and director of integrative medicine at George Washington University School of Medicine and Health Sciences, told NBC News. Heavy metals can naturally enter foods from soil and water in the growing process or at various points during packaging, drying, processing and transportation. Cocoa, rice, cereals, potatoes and tobacco can take up cadmium from the soil, for example, and lead can be introduced in the production of cocoa products. Small levels are not always dangerous and can be excreted from the body such as through sweat and urine but high levels can become concentrated in the body where they can cause damage. Cadmium is a carcinogen at high levels—it can cause cancer—and can damage most of the body’s systems, including the lungs, bones and kidneys. The CDC says there are no safe levels of lead in the blood for children and the metal can interfere with the developing brain and damage the nervous system. However, “it’s really not about avoiding them; it’s about making sure you’re not getting too much,” Frame said. Eating a diverse diet is one way of avoiding exposure, as is limiting consumption of products known to contain relatively high levels. Frame added that “better quality control practices during harvesting and manufacturing may help eliminate the problem” too, as well as better surveillance.
Surprising Fact
Organic products were more likely to have higher levels of cadmium and lead, the researchers found. “More striking, the number of trade certifications (e.g., Non-GMO, Fairtrade) did not significantly alter the levels of heavy metals found among products surveyed,” the researchers wrote.
<<<
---
>>> Scientists Found Heavy Metals Like Lead In Many Chocolate Bars. Should Consumers Be Worried?
Forbes
by Robert Hart
7-31-24
https://www.msn.com/en-us/health/nutrition/scientists-found-heavy-metals-like-lead-in-many-chocolate-bars-should-consumers-be-worried/ar-BB1qYHlw?ocid=BingNewsSerp
Many dark chocolate and cocoa products sold across the country contain levels of toxic heavy metals that exceed food safety guidelines, according to new research published Wednesday—and while the food industry and researchers involved said the findings should not stop people from eating chocolate, experts said it warrants further scrutiny.
Key Facts
Researchers from George Washington University and ConsumerLab, a company that tests foods and supplements, examined the amount of lead, cadmium and arsenic in more than 70 dark chocolate and cocoa products purchased from retailers including Amazon, GNC and Whole Foods Market over 8 years.
Their results, published in the peer reviewed journal Frontiers of Nutrition, revealed 43% of products exceeded acceptable levels of lead per serving and 35% exceeded acceptable levels of cadmium, according to California’s stringent food guidelines.
The state’s guidelines are often used by researchers as a conservative safety benchmark when investigating heavy metal contamination in foods, as the Food and Drug Administration does not set limits for toxins including cadmium and arsenic and for others like lead may only do so for specific products like candy or baby food.
None of the products tested exceeded California’s maximum level for arsenic and almost all products—70 out of 72, or 97%—had levels of lead that fell below FDA limits for the metal.
The researchers said the heavy metals found in the chocolate are unlikely to “pose any appreciable risk” when consumed as a single serving but could be “potentially problematic” if multiple servings are consumed or they are eaten with other products that may contain heavy metals such as teas or spices.
The study is the latest research to suggest some popular chocolate brands contain heavy metals, including studies by Consumer Reports.
In an emailed statement, the National Confectioners Association told Forbes “chocolate and cocoa are safe to eat and can be enjoyed as treats as they have been for centuries,” adding that “food safety and product quality remain” the organization’s “highest priorities.”
What Brands Of Chocolate Contain Heavy Metals?
It’s not clear what brands of dark chocolate and cocoa products had what levels of heavy metals in the study as the researchers intentionally left the information out of the study. The products tested are likely to be well known to consumers, however, and the researchers said their aim was to assess heavy metal contamination in “the most popular cocoa-containing consumer products each year for several years to assess trends,” using consumer surveys to assess popularity.
Should I Stop Eating Chocolate?
In short, no. According to the researchers, the amount of heavy metals found in the chocolate studied is unlikely to be “biologically significant” on its own, especially as most people are likely to consume the products relatively infrequently and in small amounts. The findings do suggest a need for better food standards and guidelines when it comes to heavy metal contamination, they said. “Enhanced surveillance may be warranted,” as well, the researchers added, particularly given the presence of outliers in the study with particularly high levels of contamination. Further research into the potential impact of multiple streams of food contamination should also be conducted, the researchers said, as it’s possible there may be “additive exposure” that is problematic from multiple food sources.
Can I Avoid Heavy Metal Exposure In Food?
Also no. “You actually cannot avoid exposure to heavy metals in the diet,” Leigh Frame, the study’s lead author and director of integrative medicine at George Washington University School of Medicine and Health Sciences, told NBC News. Heavy metals can naturally enter foods from soil and water in the growing process or at various points during packaging, drying, processing and transportation. Cocoa, rice, cereals, potatoes and tobacco can take up cadmium from the soil, for example, and lead can be introduced in the production of cocoa products. Small levels are not always dangerous and can be excreted from the body such as through sweat and urine but high levels can become concentrated in the body where they can cause damage. Cadmium is a carcinogen at high levels—it can cause cancer—and can damage most of the body’s systems, including the lungs, bones and kidneys. The CDC says there are no safe levels of lead in the blood for children and the metal can interfere with the developing brain and damage the nervous system. However, “it’s really not about avoiding them; it’s about making sure you’re not getting too much,” Frame said. Eating a diverse diet is one way of avoiding exposure, as is limiting consumption of products known to contain relatively high levels. Frame added that “better quality control practices during harvesting and manufacturing may help eliminate the problem” too, as well as better surveillance.
Surprising Fact
Organic products were more likely to have higher levels of cadmium and lead, the researchers found. “More striking, the number of trade certifications (e.g., Non-GMO, Fairtrade) did not significantly alter the levels of heavy metals found among products surveyed,” the researchers wrote.
<<<
---
>>> Scientists Found Heavy Metals Like Lead In Many Chocolate Bars. Should Consumers Be Worried?
Forbes
by Robert Hart
7-31-24
https://www.msn.com/en-us/health/nutrition/scientists-found-heavy-metals-like-lead-in-many-chocolate-bars-should-consumers-be-worried/ar-BB1qYHlw?ocid=BingNewsSerp
Many dark chocolate and cocoa products sold across the country contain levels of toxic heavy metals that exceed food safety guidelines, according to new research published Wednesday—and while the food industry and researchers involved said the findings should not stop people from eating chocolate, experts said it warrants further scrutiny.
Key Facts
Researchers from George Washington University and ConsumerLab, a company that tests foods and supplements, examined the amount of lead, cadmium and arsenic in more than 70 dark chocolate and cocoa products purchased from retailers including Amazon, GNC and Whole Foods Market over 8 years.
Their results, published in the peer reviewed journal Frontiers of Nutrition, revealed 43% of products exceeded acceptable levels of lead per serving and 35% exceeded acceptable levels of cadmium, according to California’s stringent food guidelines.
The state’s guidelines are often used by researchers as a conservative safety benchmark when investigating heavy metal contamination in foods, as the Food and Drug Administration does not set limits for toxins including cadmium and arsenic and for others like lead may only do so for specific products like candy or baby food.
None of the products tested exceeded California’s maximum level for arsenic and almost all products—70 out of 72, or 97%—had levels of lead that fell below FDA limits for the metal.
The researchers said the heavy metals found in the chocolate are unlikely to “pose any appreciable risk” when consumed as a single serving but could be “potentially problematic” if multiple servings are consumed or they are eaten with other products that may contain heavy metals such as teas or spices.
The study is the latest research to suggest some popular chocolate brands contain heavy metals, including studies by Consumer Reports.
In an emailed statement, the National Confectioners Association told Forbes “chocolate and cocoa are safe to eat and can be enjoyed as treats as they have been for centuries,” adding that “food safety and product quality remain” the organization’s “highest priorities.”
What Brands Of Chocolate Contain Heavy Metals?
It’s not clear what brands of dark chocolate and cocoa products had what levels of heavy metals in the study as the researchers intentionally left the information out of the study. The products tested are likely to be well known to consumers, however, and the researchers said their aim was to assess heavy metal contamination in “the most popular cocoa-containing consumer products each year for several years to assess trends,” using consumer surveys to assess popularity.
Should I Stop Eating Chocolate?
In short, no. According to the researchers, the amount of heavy metals found in the chocolate studied is unlikely to be “biologically significant” on its own, especially as most people are likely to consume the products relatively infrequently and in small amounts. The findings do suggest a need for better food standards and guidelines when it comes to heavy metal contamination, they said. “Enhanced surveillance may be warranted,” as well, the researchers added, particularly given the presence of outliers in the study with particularly high levels of contamination. Further research into the potential impact of multiple streams of food contamination should also be conducted, the researchers said, as it’s possible there may be “additive exposure” that is problematic from multiple food sources.
Can I Avoid Heavy Metal Exposure In Food?
Also no. “You actually cannot avoid exposure to heavy metals in the diet,” Leigh Frame, the study’s lead author and director of integrative medicine at George Washington University School of Medicine and Health Sciences, told NBC News. Heavy metals can naturally enter foods from soil and water in the growing process or at various points during packaging, drying, processing and transportation. Cocoa, rice, cereals, potatoes and tobacco can take up cadmium from the soil, for example, and lead can be introduced in the production of cocoa products. Small levels are not always dangerous and can be excreted from the body such as through sweat and urine but high levels can become concentrated in the body where they can cause damage. Cadmium is a carcinogen at high levels—it can cause cancer—and can damage most of the body’s systems, including the lungs, bones and kidneys. The CDC says there are no safe levels of lead in the blood for children and the metal can interfere with the developing brain and damage the nervous system. However, “it’s really not about avoiding them; it’s about making sure you’re not getting too much,” Frame said. Eating a diverse diet is one way of avoiding exposure, as is limiting consumption of products known to contain relatively high levels. Frame added that “better quality control practices during harvesting and manufacturing may help eliminate the problem” too, as well as better surveillance.
Surprising Fact
Organic products were more likely to have higher levels of cadmium and lead, the researchers found. “More striking, the number of trade certifications (e.g., Non-GMO, Fairtrade) did not significantly alter the levels of heavy metals found among products surveyed,” the researchers wrote.
<<<
---
Bigworld, Gold is closing in on the all time high set 2 weeks ago, when intraday it reached 2483.
Looking at the 5 year chart, after a volatile sideways consolidation for over 3 years, gold had that big breakout in March, and has been consolidating since. Now it looks about ready to continue on to 2500 and beyond, but tough to say exactly when.
Chart-wise, gold had formed a huge Cup + Handle formation over ~12 years, and based on the 'chart rules' that Wall Street goes by, the move up after the breakout should roughly equal the distance from the base of the cup to the lip, so ~ $1000 / oz. So with the breakout level being ~ 2000, this bull move would ultimately put gold at 3000. Therefore at 2500 we are ~ 1/2 way into the move.
But undoubtedly lots of volatility along the way, plus the potential for central bank suppression, etc. However, the TA / chart mavens of Wall Street will be expecting to see 3000, and collectively having that target will tend to make it self-fulfilling.
---
>>> Procter & Gamble Dinged By Beauty and Diaper Sales Declines
Investopedia
by Bill McColl
Jul 30, 2024
https://finance.yahoo.com/news/procter-gamble-dinged-beauty-diaper-150851535.html
Key Takeaways
Procter & Gamble posted a decline in sales of beauty products and diapers, and shares tumbled Tuesday.
The consumer products giant missed revenue estimates, although adjusted profit was better than expected.
P&G also faced what it called "unfavorable foreign exchange impacts."
Shares of Procter & Gamble (PG) tumbled Tuesday when the consumer products giant missed revenue estimates as sales of its beauty products and diapers declined.
P&G reported fiscal 2024 fourth-quarter revenue was basically unchanged from last year at $20.53 billion, affected by “unfavorable foreign exchange impacts,” while the average of analysts surveyed by Visible Alpha came in at $20.75 billion. Adjusted earnings per share (EPS) of $1.40 was above forecasts.
CFO Says Supply-Chain Constraints Hit Luvs
Beauty division sales fell 1% year-over-year to $3.72 billion, hurt by lower demand for the super-premium SK-II brand and in Greater China. Sales at its Baby, Feminine & Family Care unit dropped 3% to $5.01 billion, and Chief Financial Officer (CFO) Andre Schulten explained in an interview that the company wasn't able to innovate its Luvs diaper brand because of supply-chain constraints.
Chief Executive Officer (CEO) Jon Moeller said the company faced "a challenging economic and geopolitical environment" during the year.
Even with today's 6% declines to $159.69 as of 11 a.m. ET, shares of Procter & Gamble are about 9% higher year-to-date.
<<<
---
>>> Procter & Gamble Dinged By Beauty and Diaper Sales Declines
Investopedia
by Bill McColl
Jul 30, 2024
https://finance.yahoo.com/news/procter-gamble-dinged-beauty-diaper-150851535.html
Key Takeaways
Procter & Gamble posted a decline in sales of beauty products and diapers, and shares tumbled Tuesday.
The consumer products giant missed revenue estimates, although adjusted profit was better than expected.
P&G also faced what it called "unfavorable foreign exchange impacts."
Shares of Procter & Gamble (PG) tumbled Tuesday when the consumer products giant missed revenue estimates as sales of its beauty products and diapers declined.
P&G reported fiscal 2024 fourth-quarter revenue was basically unchanged from last year at $20.53 billion, affected by “unfavorable foreign exchange impacts,” while the average of analysts surveyed by Visible Alpha came in at $20.75 billion. Adjusted earnings per share (EPS) of $1.40 was above forecasts.
CFO Says Supply-Chain Constraints Hit Luvs
Beauty division sales fell 1% year-over-year to $3.72 billion, hurt by lower demand for the super-premium SK-II brand and in Greater China. Sales at its Baby, Feminine & Family Care unit dropped 3% to $5.01 billion, and Chief Financial Officer (CFO) Andre Schulten explained in an interview that the company wasn't able to innovate its Luvs diaper brand because of supply-chain constraints.
Chief Executive Officer (CEO) Jon Moeller said the company faced "a challenging economic and geopolitical environment" during the year.
Even with today's 6% declines to $159.69 as of 11 a.m. ET, shares of Procter & Gamble are about 9% higher year-to-date.
<<<
---
>>> Gartner (NYSE: IT) is known for its research and consulting services, and the company works with businesses across 90 countries and territories around the globe. The company's Magic Quadrant report has become an industry standard for businesses in the tech space to look at competitors in a particular market and strategize their own growth approach.
https://finance.yahoo.com/news/2-unstoppable-growth-stocks-buy-084300768.html
Gartner makes money in several different ways. Its research segment is its largest source of revenue growth and is subscription-based. Most contracts are at least 12 months long, and roughly 70% are multiyear, giving the company predictable sources of recurring revenue. This segment delivers the research content and data-driven analysis that organizations of all sizes around the world use to align their business vision and streamline operations.
Gartner's second stream of revenue is from the conferences that it holds for information technology and business executives. Finally, Gartner makes money from consulting services provided to chief information officers and other senior executives at various companies.
Revenue from Gartner's research division is recognized over the term of the specific contract. Revenue from its conference division is recognized once the meeting or conference is completed. Consulting revenues often derive from fixed fees or are delivered as those specific services are provided.
To give readers an idea of the breakdown of Gartner's revenue sources as they translate to its overall balance sheet, in the full year 2023, the company reported just shy of $6 billion in total revenue. That was a nice 8% bump compared to the full year 2022. Of that total revenue amount, about $4.9 billion was derived from its subscription-based research segment, while conference revenue totaled $505.2 million and consulting revenue $514.7 million.
Gartner is a profitable company. Last year, the company brought in a total net income of about $883 million, up 9% from the prior 12-month period. Fast-forward to the first quarter of 2024, and the company brought in profits of $211 million on revenue of about $1.5 billion. That revenue figure was up about 5% one year ago, even though net income was down year over year.
The company is also consistently cash-flow positive. Gartner brought in an operating cash flow of $189 million in Q1 and a free cash flow of $166 million. Those two figures were up 15% and 16% from one year ago. Gartner's leadership in the technological research and consulting space has given it a considerable footprint in a vast total addressable market that management estimates is in the region of $200 billion. Shares are up about 30% from one year ago, and some investors might want to take a second look before they possibly edge higher.
<<<
---
>>> Gartner (NYSE: IT) is known for its research and consulting services, and the company works with businesses across 90 countries and territories around the globe. The company's Magic Quadrant report has become an industry standard for businesses in the tech space to look at competitors in a particular market and strategize their own growth approach.
https://finance.yahoo.com/news/2-unstoppable-growth-stocks-buy-084300768.html
Gartner makes money in several different ways. Its research segment is its largest source of revenue growth and is subscription-based. Most contracts are at least 12 months long, and roughly 70% are multiyear, giving the company predictable sources of recurring revenue. This segment delivers the research content and data-driven analysis that organizations of all sizes around the world use to align their business vision and streamline operations.
Gartner's second stream of revenue is from the conferences that it holds for information technology and business executives. Finally, Gartner makes money from consulting services provided to chief information officers and other senior executives at various companies.
Revenue from Gartner's research division is recognized over the term of the specific contract. Revenue from its conference division is recognized once the meeting or conference is completed. Consulting revenues often derive from fixed fees or are delivered as those specific services are provided.
To give readers an idea of the breakdown of Gartner's revenue sources as they translate to its overall balance sheet, in the full year 2023, the company reported just shy of $6 billion in total revenue. That was a nice 8% bump compared to the full year 2022. Of that total revenue amount, about $4.9 billion was derived from its subscription-based research segment, while conference revenue totaled $505.2 million and consulting revenue $514.7 million.
Gartner is a profitable company. Last year, the company brought in a total net income of about $883 million, up 9% from the prior 12-month period. Fast-forward to the first quarter of 2024, and the company brought in profits of $211 million on revenue of about $1.5 billion. That revenue figure was up about 5% one year ago, even though net income was down year over year.
The company is also consistently cash-flow positive. Gartner brought in an operating cash flow of $189 million in Q1 and a free cash flow of $166 million. Those two figures were up 15% and 16% from one year ago. Gartner's leadership in the technological research and consulting space has given it a considerable footprint in a vast total addressable market that management estimates is in the region of $200 billion. Shares are up about 30% from one year ago, and some investors might want to take a second look before they possibly edge higher.
<<<
---
>>> Gartner (NYSE: IT) is known for its research and consulting services, and the company works with businesses across 90 countries and territories around the globe. The company's Magic Quadrant report has become an industry standard for businesses in the tech space to look at competitors in a particular market and strategize their own growth approach.
https://finance.yahoo.com/news/2-unstoppable-growth-stocks-buy-084300768.html
Gartner makes money in several different ways. Its research segment is its largest source of revenue growth and is subscription-based. Most contracts are at least 12 months long, and roughly 70% are multiyear, giving the company predictable sources of recurring revenue. This segment delivers the research content and data-driven analysis that organizations of all sizes around the world use to align their business vision and streamline operations.
Gartner's second stream of revenue is from the conferences that it holds for information technology and business executives. Finally, Gartner makes money from consulting services provided to chief information officers and other senior executives at various companies.
Revenue from Gartner's research division is recognized over the term of the specific contract. Revenue from its conference division is recognized once the meeting or conference is completed. Consulting revenues often derive from fixed fees or are delivered as those specific services are provided.
To give readers an idea of the breakdown of Gartner's revenue sources as they translate to its overall balance sheet, in the full year 2023, the company reported just shy of $6 billion in total revenue. That was a nice 8% bump compared to the full year 2022. Of that total revenue amount, about $4.9 billion was derived from its subscription-based research segment, while conference revenue totaled $505.2 million and consulting revenue $514.7 million.
Gartner is a profitable company. Last year, the company brought in a total net income of about $883 million, up 9% from the prior 12-month period. Fast-forward to the first quarter of 2024, and the company brought in profits of $211 million on revenue of about $1.5 billion. That revenue figure was up about 5% one year ago, even though net income was down year over year.
The company is also consistently cash-flow positive. Gartner brought in an operating cash flow of $189 million in Q1 and a free cash flow of $166 million. Those two figures were up 15% and 16% from one year ago. Gartner's leadership in the technological research and consulting space has given it a considerable footprint in a vast total addressable market that management estimates is in the region of $200 billion. Shares are up about 30% from one year ago, and some investors might want to take a second look before they possibly edge higher.
<<<
---
>>> UFP Industries Announces Second Quarter Results
Business Wire
Jul 30, 2024
https://finance.yahoo.com/news/ufp-industries-announces-second-quarter-110000125.html
GRAND RAPIDS, Mich., July 30, 2024--(BUSINESS WIRE)--UFP Industries, Inc. (Nasdaq: UFPI) today announced second quarter 2024 results including net sales of $1.9 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $2.05.
"Our second quarter results were in line with expectations in a more challenging business cycle, and I am grateful for the efforts of all of our UFP teammates to adapt to this environment and adjust capacity to meet demand," said Chairman and CEO Matthew J. Missad. "The weaker environment and expected near-term softness in demand have enabled us to more aggressively pursue our long-term expansion plans and improvement strategies. These efforts include investments in automation and consolidating operations to eliminate redundancies, lower costs and enhance the profitability of each of our facilities. Additionally, we are using our strong balance sheet to stay on offense by investing in acquisitions, new ventures, new value-added products, and organic expansion, while returning capital to shareholders through our recently increased dividend and share repurchase program. Our long-term outlook for growth remains strong."
Second Quarter 2024 Highlights (comparisons on a year-over-year basis except where noted):
Net sales of $1.9 billion decreased 7 percent due to a 6 percent decrease in selling prices and a 1 percent decrease in organic unit sales. Quarter over quarter, the price of Southern Yellow Pine (SYP) decreased 19 percent, which contributed to our decrease in selling prices.
New product sales of $134 million were 7.0 percent of total sales compared to 7.4 percent in the second quarter of 2023. Many products that were considered new products in 2023 were sunset and not included in 2024 totals.
Net earnings attributable to controlling interests of $126 million represents a 16 percent decrease from last year.
Adjusted EBITDA1 of $204 million represents a decrease of 13 percent while adjusted EBITDA margin1 declined 80 basis points to 10.7 percent.
________________________
1 Represents a non-GAAP measurement; see the reconciliation of non-GAAP financial measures and related explanations below.
Capital Allocation
UFP Industries maintains a strong balance sheet with $1.04 billion in cash on June 29, 2024, compared to $702 million in cash at the end of the second quarter of 2023. The company had approximately $2.3 billion of liquidity as of June 29, 2024. The company’s return-focused approach to capital allocation includes the following:
- Acquisitions and Organic Growth. The company continues to pursue strategic acquisitions and will invest in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. The company is targeting capital investments in 2024 of up to $300 million for automation, technology upgrades, geographic expansion and increased capacity at existing facilities, specifically for its Deckorators, Site Built, metal packaging, and machine-built pallet businesses. Approximately $200 million of projects have been approved in 2024 and another $96 million in projects are pending approval. Longer lead times for equipment and site selection in the case of new locations may delay some investments until 2025.
- Dividend payments. On July 24, 2024, the UFP Industries Board of Directors approved a quarterly dividend payment of $0.33 per share, a 10 percent increase over the quarterly dividend of $0.30 per share paid in September 2023. The dividend is payable on September 16, 2024, to shareholders of record on September 2, 2024.
- Share repurchases. The company was authorized to purchase up to $200 million of outstanding stock through July 31, 2024. From July 26, 2023, through the end of the second quarter of 2024, the company repurchased approximately 1,477,000 shares at an average price of $110.96 (a total of $163.9 million). On July 24, 2024, the Board of Directors for UFP Industries authorized the company to repurchase up to $200 million of shares through July 31, 2025.
By business segment, the company reported the following second quarter 2024 results:
UFP Retail Solutions
Net sales of $809 million, down 14 percent compared to the second quarter of 2023, while gross profit increased 3 percent. Sales performance was attributable to a 7 percent decline in selling prices, a 5 percent decline in organic unit sales, and a 2 percent decline due to the transfer of certain product sales to the Packaging and Construction segments. Organic unit sales decreased 2 percent for Deckorators, 6 percent for ProWood and 4 percent for UFP-Edge. Overall, unit sales decreased 5 percent with big box customers, a decline that largely correlates with an easing in repair and remodel activity, and were flat with independent retailers. Gross profit for the retail segment increased 3 percent to $127 million, primarily due to operational improvements, SKU rationalization, and better inventory positioning and utilization of our managed inventory programs.
UFP Packaging
Net sales of $435 million were down 11 percent compared to the second quarter of 2023, due to an 8 percent decrease in selling prices and a 6 percent decline in organic unit sales, offset by a 3 percent increase from the transfer of certain product sales from the Retail segment. A 10 percent increase in organic unit sales for PalletOne, due to market share gains, partially offset an 11 percent decline in organic unit sales for Protective Packaging and a 12 percent decline in organic unit sales for Structural Packaging, attributable to weaker demand. Gross profit for the packaging segment decreased 29 percent to $84 million due to competitive price pressure and lower sales volumes.
UFP Construction
Net sales of $575 million increased 4 percent compared to the second quarter of 2023 as a 4 percent decrease in selling prices was offset by a 7 percent increase in organic unit sales and a 1 percent increase from the transfer of certain product sales from the Retail segment. Organic unit sales increased in Factory Built, up 19 percent due to an increase in industry production, and Site Built, up 4 percent, we believe due to market share gains in both existing and new product categories. Gross profit for the construction segment decreased 8 percent to $126 million due to competitive price pressure.
Short-Term Outlook
Lumber Market: We continue to anticipate lumber prices will remain at lower levels in 2024 based on current supply and demand dynamics.
End Market Demand: We continue to follow key indicators and forecasts in the markets we serve and have revised our outlook for the balance of 2024. We anticipate demand will decrease in Retail by mid-single digits, decrease in Packaging by mid- to high-single digits, and increase in Construction by low- to mid-single digits, reflecting continued strength in our Factory Built business. Generally, we expect the soft demand and competitive price environment will continue for the remainder of the year, resulting in more challenging year-over-year unit sales and profitability comparisons. We believe market share gains will help offset lower demand in each of our segments for the balance of the year.
CONFERENCE CALL
UFP Industries will conduct a conference call to discuss its outlook and information included in this news release at 9 a.m. ET on Tuesday, July 30, 2024. The call will be hosted by Chairman and CEO Matthew J. Missad and CFO Michael Cole and will be available simultaneously and in its entirety to all interested investors and news media through a webcast at https://www.ufpinvestor.com/news-filings-reports#events---presentations. A replay of the call will be available through the website.
UFP Industries, Inc.
UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. UFP Industries is ranked #493 on the Fortune 500 and #128 on Industry Week’s list of America’s Largest Manufacturers. For more about UFP Industries, go to www.ufpi.com.
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>>> UFP Industries Announces Second Quarter Results
Business Wire
Jul 30, 2024
https://finance.yahoo.com/news/ufp-industries-announces-second-quarter-110000125.html
GRAND RAPIDS, Mich., July 30, 2024--(BUSINESS WIRE)--UFP Industries, Inc. (Nasdaq: UFPI) today announced second quarter 2024 results including net sales of $1.9 billion, net earnings attributable to controlling interest of $126 million, and earnings per diluted share of $2.05.
"Our second quarter results were in line with expectations in a more challenging business cycle, and I am grateful for the efforts of all of our UFP teammates to adapt to this environment and adjust capacity to meet demand," said Chairman and CEO Matthew J. Missad. "The weaker environment and expected near-term softness in demand have enabled us to more aggressively pursue our long-term expansion plans and improvement strategies. These efforts include investments in automation and consolidating operations to eliminate redundancies, lower costs and enhance the profitability of each of our facilities. Additionally, we are using our strong balance sheet to stay on offense by investing in acquisitions, new ventures, new value-added products, and organic expansion, while returning capital to shareholders through our recently increased dividend and share repurchase program. Our long-term outlook for growth remains strong."
Second Quarter 2024 Highlights (comparisons on a year-over-year basis except where noted):
Net sales of $1.9 billion decreased 7 percent due to a 6 percent decrease in selling prices and a 1 percent decrease in organic unit sales. Quarter over quarter, the price of Southern Yellow Pine (SYP) decreased 19 percent, which contributed to our decrease in selling prices.
New product sales of $134 million were 7.0 percent of total sales compared to 7.4 percent in the second quarter of 2023. Many products that were considered new products in 2023 were sunset and not included in 2024 totals.
Net earnings attributable to controlling interests of $126 million represents a 16 percent decrease from last year.
Adjusted EBITDA1 of $204 million represents a decrease of 13 percent while adjusted EBITDA margin1 declined 80 basis points to 10.7 percent.
________________________
1 Represents a non-GAAP measurement; see the reconciliation of non-GAAP financial measures and related explanations below.
Capital Allocation
UFP Industries maintains a strong balance sheet with $1.04 billion in cash on June 29, 2024, compared to $702 million in cash at the end of the second quarter of 2023. The company had approximately $2.3 billion of liquidity as of June 29, 2024. The company’s return-focused approach to capital allocation includes the following:
- Acquisitions and Organic Growth. The company continues to pursue strategic acquisitions and will invest in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. The company is targeting capital investments in 2024 of up to $300 million for automation, technology upgrades, geographic expansion and increased capacity at existing facilities, specifically for its Deckorators, Site Built, metal packaging, and machine-built pallet businesses. Approximately $200 million of projects have been approved in 2024 and another $96 million in projects are pending approval. Longer lead times for equipment and site selection in the case of new locations may delay some investments until 2025.
- Dividend payments. On July 24, 2024, the UFP Industries Board of Directors approved a quarterly dividend payment of $0.33 per share, a 10 percent increase over the quarterly dividend of $0.30 per share paid in September 2023. The dividend is payable on September 16, 2024, to shareholders of record on September 2, 2024.
- Share repurchases. The company was authorized to purchase up to $200 million of outstanding stock through July 31, 2024. From July 26, 2023, through the end of the second quarter of 2024, the company repurchased approximately 1,477,000 shares at an average price of $110.96 (a total of $163.9 million). On July 24, 2024, the Board of Directors for UFP Industries authorized the company to repurchase up to $200 million of shares through July 31, 2025.
By business segment, the company reported the following second quarter 2024 results:
UFP Retail Solutions
Net sales of $809 million, down 14 percent compared to the second quarter of 2023, while gross profit increased 3 percent. Sales performance was attributable to a 7 percent decline in selling prices, a 5 percent decline in organic unit sales, and a 2 percent decline due to the transfer of certain product sales to the Packaging and Construction segments. Organic unit sales decreased 2 percent for Deckorators, 6 percent for ProWood and 4 percent for UFP-Edge. Overall, unit sales decreased 5 percent with big box customers, a decline that largely correlates with an easing in repair and remodel activity, and were flat with independent retailers. Gross profit for the retail segment increased 3 percent to $127 million, primarily due to operational improvements, SKU rationalization, and better inventory positioning and utilization of our managed inventory programs.
UFP Packaging
Net sales of $435 million were down 11 percent compared to the second quarter of 2023, due to an 8 percent decrease in selling prices and a 6 percent decline in organic unit sales, offset by a 3 percent increase from the transfer of certain product sales from the Retail segment. A 10 percent increase in organic unit sales for PalletOne, due to market share gains, partially offset an 11 percent decline in organic unit sales for Protective Packaging and a 12 percent decline in organic unit sales for Structural Packaging, attributable to weaker demand. Gross profit for the packaging segment decreased 29 percent to $84 million due to competitive price pressure and lower sales volumes.
UFP Construction
Net sales of $575 million increased 4 percent compared to the second quarter of 2023 as a 4 percent decrease in selling prices was offset by a 7 percent increase in organic unit sales and a 1 percent increase from the transfer of certain product sales from the Retail segment. Organic unit sales increased in Factory Built, up 19 percent due to an increase in industry production, and Site Built, up 4 percent, we believe due to market share gains in both existing and new product categories. Gross profit for the construction segment decreased 8 percent to $126 million due to competitive price pressure.
Short-Term Outlook
Lumber Market: We continue to anticipate lumber prices will remain at lower levels in 2024 based on current supply and demand dynamics.
End Market Demand: We continue to follow key indicators and forecasts in the markets we serve and have revised our outlook for the balance of 2024. We anticipate demand will decrease in Retail by mid-single digits, decrease in Packaging by mid- to high-single digits, and increase in Construction by low- to mid-single digits, reflecting continued strength in our Factory Built business. Generally, we expect the soft demand and competitive price environment will continue for the remainder of the year, resulting in more challenging year-over-year unit sales and profitability comparisons. We believe market share gains will help offset lower demand in each of our segments for the balance of the year.
CONFERENCE CALL
UFP Industries will conduct a conference call to discuss its outlook and information included in this news release at 9 a.m. ET on Tuesday, July 30, 2024. The call will be hosted by Chairman and CEO Matthew J. Missad and CFO Michael Cole and will be available simultaneously and in its entirety to all interested investors and news media through a webcast at https://www.ufpinvestor.com/news-filings-reports#events---presentations. A replay of the call will be available through the website.
UFP Industries, Inc.
UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. UFP Industries is ranked #493 on the Fortune 500 and #128 on Industry Week’s list of America’s Largest Manufacturers. For more about UFP Industries, go to www.ufpi.com.
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>>> Why Watsco Stock Is Falling Today
by Lou Whiteman
Motley Fool
Jul 30, 2024
https://finance.yahoo.com/news/why-watsco-stock-falling-today-175712682.html
Watsco (NYSE: WSO) reported record sales, improving cash flow, and an improving balance sheet in its most recent quarter. But the results weren't quite what Wall Street had expected.
After the earnings release, shares of the industrial equipment distributor were trading down about 5% as of noon ET.
Growth, but short of expectations
Watsco is a distributor of parts and supplies for the heating, air conditioning, and refrigeration (HVAC) industry. The company earned $4.49 per share in the quarter on revenue of $2.14 billion, generating 7% year-over-year sales growth.
The company saw strong 8% growth in its HVAC equipment segment, which accounts for 71% of total sales. Operating cash flow also turned positive and improved by $100 million, with $58 million in reported cash flow in the quarter.
But Wall Street had expected $4.68 per share in earnings on sales of $2.2 billion, and gross margin in the quarter fell 100 basis points to 27.1%.
Is Watsco a buy?
Watsco has been an impressive performer over the years thanks to the company's ability to roll up small distributors and drive efficiency and scale gains. The stock was up more than 20% for the year heading into earnings and perhaps got ahead of itself.
On the post-earnings call, management said quarter-to-quarter margin fluctuations are to be expected as manufacturers adjust pricing and as inventories are replenished, but it sees business as usual up ahead. For long-term-focused investors, business as usual has generated market-beating returns, and there is nothing in this earnings report to suggest Watsco can't continue to deliver in the years to come.
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>>> Why Watsco Stock Is Falling Today
by Lou Whiteman
Motley Fool
Jul 30, 2024
https://finance.yahoo.com/news/why-watsco-stock-falling-today-175712682.html
Watsco (NYSE: WSO) reported record sales, improving cash flow, and an improving balance sheet in its most recent quarter. But the results weren't quite what Wall Street had expected.
After the earnings release, shares of the industrial equipment distributor were trading down about 5% as of noon ET.
Growth, but short of expectations
Watsco is a distributor of parts and supplies for the heating, air conditioning, and refrigeration (HVAC) industry. The company earned $4.49 per share in the quarter on revenue of $2.14 billion, generating 7% year-over-year sales growth.
The company saw strong 8% growth in its HVAC equipment segment, which accounts for 71% of total sales. Operating cash flow also turned positive and improved by $100 million, with $58 million in reported cash flow in the quarter.
But Wall Street had expected $4.68 per share in earnings on sales of $2.2 billion, and gross margin in the quarter fell 100 basis points to 27.1%.
Is Watsco a buy?
Watsco has been an impressive performer over the years thanks to the company's ability to roll up small distributors and drive efficiency and scale gains. The stock was up more than 20% for the year heading into earnings and perhaps got ahead of itself.
On the post-earnings call, management said quarter-to-quarter margin fluctuations are to be expected as manufacturers adjust pricing and as inventories are replenished, but it sees business as usual up ahead. For long-term-focused investors, business as usual has generated market-beating returns, and there is nothing in this earnings report to suggest Watsco can't continue to deliver in the years to come.
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Broadcom - >>> Forget Nvidia: Billionaire Ken Griffin Raised His Position in This Rival AI Stock by More Than 500%
by Adria Cimino
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/forget-nvidia-billionaire-ken-griffin-094000273.html
Nvidia (NASDAQ: NVDA) shares have soared, resulting in a major boost for investors that got in on the shares early. And many billionaire investors have benefited -- including Ken Griffin, chief executive of Citadel. Griffin initially bought Nvidia back in 2013, and as recently as late last year his fund held more than three million shares of the artificial intelligence (AI) chip giant.
But Griffin wasn't a buyer of Nvidia in recent months. In fact, in the first quarter of this year, he reduced his position in Nvidia by 68% to about 1.1 million shares. And at the same time, he increased his holding of another AI stock by more than 500%. Does this mean that, like Griffin, you should forget Nvidia and bet on this AI player? Let's find out.
Citadel's track record
First, it's important to note investors have a pretty good reason for following Griffin's path. Since launching Citadel back in 1990, Griffin has built the fund to $63 billion in investment capital today. And Citadel has scored recognition as the most profitable hedge fund ever. So, when Griffin makes a particular bet on a stock, it's worth taking note -- and in some instances, you may decide to follow.
Now let's consider the billionaire's latest move. The hedge fund giant increased his position in Broadcom (NASDAQ: AVGO) by more than 500% to about 295,000 shares, a clear sign of confidence in this AI company. Griffin has probably already started to win from this move since the stock has advanced about 35% so far this year.
And the company completed a 10-for-1 stock split earlier this month, offering current holders additional shares to lower the per-share price of its stock. This doesn't change the value of Griffin's holding -- or yours if you're a Broadcom shareholder -- but it does offer shareholders a greater number of shares. A stock split is generally positive for a stock over time as it allows a wider range of investors to more easily buy it.
We don't know the exact reason why Griffin decided to increase his holding of Broadcom in the triple digits, but there's a lot of evidence showing Broadcom could be an AI winner down the road. In the most recent quarter, the semiconductor and networking giant said AI revenue surged 280% to more than $3.1 billion. Demand from mega-scale data centers for AI networking and custom accelerators is driving this growth, the company says.
Broadcom's new wave of growth
As these data centers, or hyperscalers, continue to expand, Broadcom is seeing more and more growth in its networking business. The company doubled the number of switches it sold in the quarter year over year and now is developing next-generation switches and optics that should drive a new wave of growth.
Broadcom is optimistic about this growth continuing, and considering forecasts for the AI market, there's reason for investors to be confident about the company's future too. Today's $200 billion AI market is set to reach more than $1 trillion later this decade. It's important to remember that right now more than 99% of Internet traffic travels through a Broadcom technology -- so the company, as a leader, is well positioned to benefit from the AI boom.
On top of this, Broadcom also is seeing growth from its acquisition of cloud software company VMware. In fact, it predicts VMWare will help drive a 42% increase in annual revenue this year to about $51 billion.
Nvidia vs Broadcom
So, is it time to forget Nvidia and turn to Broadcom? It's important to note that the companies could be considered rivals or peers because they are both chipmakers. But, while Nvidia is more focused on serving data centers with chips and other related products and services, Broadcom's business covers a lot more territory. The company makes thousands of products used not only in data centers but also in home connectivity, smartphones, and telecommunications in general. So, while Broadcom is growing thanks to AI, it doesn't depend on this market as much as Nvidia does -- this could make Broadcom a safer bet over time.
Still, it's also key to remember Citadel's Griffin hasn't exited his Nvidia position. He holds a considerable number of shares. So, the billionaire clearly hasn't lost faith in Nvidia and continues to believe the stock could generate solid returns.
All of this means there are reasons to be optimistic about both of these AI stocks. That said, one thing right now supports the idea of forgetting Nvidia and following Griffin into Broadcom, and that's valuation. Broadcom trades for 31x forward earnings estimates compared to 41x for Nvidia.
This is a very reasonable price considering the company's track record of growth and potential for gains from AI and the VMware acquisition. And that's why, right now you may want to forget Nvidia, and follow billionaire investor Griffin into Broadcom.
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Broadcom - >>> Forget Nvidia: Billionaire Ken Griffin Raised His Position in This Rival AI Stock by More Than 500%
by Adria Cimino
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/forget-nvidia-billionaire-ken-griffin-094000273.html
Nvidia (NASDAQ: NVDA) shares have soared, resulting in a major boost for investors that got in on the shares early. And many billionaire investors have benefited -- including Ken Griffin, chief executive of Citadel. Griffin initially bought Nvidia back in 2013, and as recently as late last year his fund held more than three million shares of the artificial intelligence (AI) chip giant.
But Griffin wasn't a buyer of Nvidia in recent months. In fact, in the first quarter of this year, he reduced his position in Nvidia by 68% to about 1.1 million shares. And at the same time, he increased his holding of another AI stock by more than 500%. Does this mean that, like Griffin, you should forget Nvidia and bet on this AI player? Let's find out.
Citadel's track record
First, it's important to note investors have a pretty good reason for following Griffin's path. Since launching Citadel back in 1990, Griffin has built the fund to $63 billion in investment capital today. And Citadel has scored recognition as the most profitable hedge fund ever. So, when Griffin makes a particular bet on a stock, it's worth taking note -- and in some instances, you may decide to follow.
Now let's consider the billionaire's latest move. The hedge fund giant increased his position in Broadcom (NASDAQ: AVGO) by more than 500% to about 295,000 shares, a clear sign of confidence in this AI company. Griffin has probably already started to win from this move since the stock has advanced about 35% so far this year.
And the company completed a 10-for-1 stock split earlier this month, offering current holders additional shares to lower the per-share price of its stock. This doesn't change the value of Griffin's holding -- or yours if you're a Broadcom shareholder -- but it does offer shareholders a greater number of shares. A stock split is generally positive for a stock over time as it allows a wider range of investors to more easily buy it.
We don't know the exact reason why Griffin decided to increase his holding of Broadcom in the triple digits, but there's a lot of evidence showing Broadcom could be an AI winner down the road. In the most recent quarter, the semiconductor and networking giant said AI revenue surged 280% to more than $3.1 billion. Demand from mega-scale data centers for AI networking and custom accelerators is driving this growth, the company says.
Broadcom's new wave of growth
As these data centers, or hyperscalers, continue to expand, Broadcom is seeing more and more growth in its networking business. The company doubled the number of switches it sold in the quarter year over year and now is developing next-generation switches and optics that should drive a new wave of growth.
Broadcom is optimistic about this growth continuing, and considering forecasts for the AI market, there's reason for investors to be confident about the company's future too. Today's $200 billion AI market is set to reach more than $1 trillion later this decade. It's important to remember that right now more than 99% of Internet traffic travels through a Broadcom technology -- so the company, as a leader, is well positioned to benefit from the AI boom.
On top of this, Broadcom also is seeing growth from its acquisition of cloud software company VMware. In fact, it predicts VMWare will help drive a 42% increase in annual revenue this year to about $51 billion.
Nvidia vs Broadcom
So, is it time to forget Nvidia and turn to Broadcom? It's important to note that the companies could be considered rivals or peers because they are both chipmakers. But, while Nvidia is more focused on serving data centers with chips and other related products and services, Broadcom's business covers a lot more territory. The company makes thousands of products used not only in data centers but also in home connectivity, smartphones, and telecommunications in general. So, while Broadcom is growing thanks to AI, it doesn't depend on this market as much as Nvidia does -- this could make Broadcom a safer bet over time.
Still, it's also key to remember Citadel's Griffin hasn't exited his Nvidia position. He holds a considerable number of shares. So, the billionaire clearly hasn't lost faith in Nvidia and continues to believe the stock could generate solid returns.
All of this means there are reasons to be optimistic about both of these AI stocks. That said, one thing right now supports the idea of forgetting Nvidia and following Griffin into Broadcom, and that's valuation. Broadcom trades for 31x forward earnings estimates compared to 41x for Nvidia.
This is a very reasonable price considering the company's track record of growth and potential for gains from AI and the VMware acquisition. And that's why, right now you may want to forget Nvidia, and follow billionaire investor Griffin into Broadcom.
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Broadcom - >>> Forget Nvidia: Billionaire Ken Griffin Raised His Position in This Rival AI Stock by More Than 500%
by Adria Cimino
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/forget-nvidia-billionaire-ken-griffin-094000273.html
Nvidia (NASDAQ: NVDA) shares have soared, resulting in a major boost for investors that got in on the shares early. And many billionaire investors have benefited -- including Ken Griffin, chief executive of Citadel. Griffin initially bought Nvidia back in 2013, and as recently as late last year his fund held more than three million shares of the artificial intelligence (AI) chip giant.
But Griffin wasn't a buyer of Nvidia in recent months. In fact, in the first quarter of this year, he reduced his position in Nvidia by 68% to about 1.1 million shares. And at the same time, he increased his holding of another AI stock by more than 500%. Does this mean that, like Griffin, you should forget Nvidia and bet on this AI player? Let's find out.
Citadel's track record
First, it's important to note investors have a pretty good reason for following Griffin's path. Since launching Citadel back in 1990, Griffin has built the fund to $63 billion in investment capital today. And Citadel has scored recognition as the most profitable hedge fund ever. So, when Griffin makes a particular bet on a stock, it's worth taking note -- and in some instances, you may decide to follow.
Now let's consider the billionaire's latest move. The hedge fund giant increased his position in Broadcom (NASDAQ: AVGO) by more than 500% to about 295,000 shares, a clear sign of confidence in this AI company. Griffin has probably already started to win from this move since the stock has advanced about 35% so far this year.
And the company completed a 10-for-1 stock split earlier this month, offering current holders additional shares to lower the per-share price of its stock. This doesn't change the value of Griffin's holding -- or yours if you're a Broadcom shareholder -- but it does offer shareholders a greater number of shares. A stock split is generally positive for a stock over time as it allows a wider range of investors to more easily buy it.
We don't know the exact reason why Griffin decided to increase his holding of Broadcom in the triple digits, but there's a lot of evidence showing Broadcom could be an AI winner down the road. In the most recent quarter, the semiconductor and networking giant said AI revenue surged 280% to more than $3.1 billion. Demand from mega-scale data centers for AI networking and custom accelerators is driving this growth, the company says.
Broadcom's new wave of growth
As these data centers, or hyperscalers, continue to expand, Broadcom is seeing more and more growth in its networking business. The company doubled the number of switches it sold in the quarter year over year and now is developing next-generation switches and optics that should drive a new wave of growth.
Broadcom is optimistic about this growth continuing, and considering forecasts for the AI market, there's reason for investors to be confident about the company's future too. Today's $200 billion AI market is set to reach more than $1 trillion later this decade. It's important to remember that right now more than 99% of Internet traffic travels through a Broadcom technology -- so the company, as a leader, is well positioned to benefit from the AI boom.
On top of this, Broadcom also is seeing growth from its acquisition of cloud software company VMware. In fact, it predicts VMWare will help drive a 42% increase in annual revenue this year to about $51 billion.
Nvidia vs Broadcom
So, is it time to forget Nvidia and turn to Broadcom? It's important to note that the companies could be considered rivals or peers because they are both chipmakers. But, while Nvidia is more focused on serving data centers with chips and other related products and services, Broadcom's business covers a lot more territory. The company makes thousands of products used not only in data centers but also in home connectivity, smartphones, and telecommunications in general. So, while Broadcom is growing thanks to AI, it doesn't depend on this market as much as Nvidia does -- this could make Broadcom a safer bet over time.
Still, it's also key to remember Citadel's Griffin hasn't exited his Nvidia position. He holds a considerable number of shares. So, the billionaire clearly hasn't lost faith in Nvidia and continues to believe the stock could generate solid returns.
All of this means there are reasons to be optimistic about both of these AI stocks. That said, one thing right now supports the idea of forgetting Nvidia and following Griffin into Broadcom, and that's valuation. Broadcom trades for 31x forward earnings estimates compared to 41x for Nvidia.
This is a very reasonable price considering the company's track record of growth and potential for gains from AI and the VMware acquisition. And that's why, right now you may want to forget Nvidia, and follow billionaire investor Griffin into Broadcom.
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>>> Where Will Supermicro Stock Be in 5 Years?
by Will Healy
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/where-supermicro-stock-5-years-091500517.html
Looking back on Super Micro Computer (NASDAQ: SMCI) five years ago, few likely envisioned it would reach the heights it has today. It has existed since 1993 and has traded as a stock since 2007. Despite building a large, successful business, the company was largely unknown outside its industry and drew little interest from stock investors.
Supermicro's fortunes changed dramatically when its partnership with Nvidia brought about exponentially higher sales of AI-capable servers. This helped lead to the AI stock rising by over 3,500% over the last five years. Admittedly, another 3,500% increase in the next five years is unlikely, but the stock can probably generate market-beating returns during that time. Here's why.
The state of Supermicro
The most surprising things about Supermicro are its longtime obscurity and meteoric rise to prominence. The company describes itself as a "rack-scale total IT solutions provider" that creates environmentally friendly and energy-saving machinery.
It produces first-to-market hardware for the edge, 5G, data centers, the cloud, and AI in approximately 6 million square feet of manufacturing space. Moreover, it operates in more than 100 countries, meaning it built an extensive footprint despite receiving little attention from investors until recently.
The company's growth has now become too significant for investors to ignore. In the first nine months of fiscal 2024 (ended March 31), it reported $9.6 billion in revenue, a 95% yearly increase. With that, net income surged to $855 million compared with $446 million in the same year-ago period.
Where Supermicro is going
Additionally, its rapid growth is on track to continue. Markets.us estimates the compound annual growth rate (CAGR) for the AI server industry will exceed 30% through 2033.
Fortunately for Supermicro's shareholders, company estimates far exceed that rapidly growing industry CAGR. In the most recent earnings report, the company raised its fiscal 2024 revenue guidance to $14.7 billion, which would mean a 107% growth rate if revenue levels match the company estimate.
As for the stock, it has risen by almost 130% over the last year. Still, nearly all of that growth occurred in the first three months of the calendar year, and the stock has pulled back by more than 40% since peaking in March.
However, that price correction could dramatically increase Supermicro's odds of outperforming the indexes. Its P/E ratio had reached 90 as its stock peaked. Now, with rising profits and falling stock prices, the earnings multiple has dropped to 39. Its PEG ratio of just 0.6 confirms that its P/E ratio is at a very low level, considering the rapid growth of its profits.
Furthermore, analysts forecast that Supermicro's net income will grow by an average of 62% per year for the next five years. Admittedly, this is a "way too early" estimate and will likely change significantly as more information becomes known. Still, if profits grow at an average close to this estimate, it is likely the rapid growth of Supermicro stock will continue.
Supermicro in five years
Although a lot can happen in five years, Supermicro stands a high likelihood of beating the market over that time. As stated before, investors should not expect another 3,500% gain over five years, nor should they expect the company to maintain revenue growth near the triple-digits over the long run.
Nonetheless, the AI servers produced by Supermicro are experiencing unprecedented demand, leading to massive gains in the stock price. Moreover, even if estimates for the future change significantly, both Supermicro and its industry should experience rapid growth rates for years to come.
Additionally, considering the growth rates of the recent past, the 39 P/E ratio and the PEG ratio under 1 arguably make Supermicro a bargain stock. Given its recent pullback, now might be a good time to add shares.
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>>> Where Will Supermicro Stock Be in 5 Years?
by Will Healy
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/where-supermicro-stock-5-years-091500517.html
Looking back on Super Micro Computer (NASDAQ: SMCI) five years ago, few likely envisioned it would reach the heights it has today. It has existed since 1993 and has traded as a stock since 2007. Despite building a large, successful business, the company was largely unknown outside its industry and drew little interest from stock investors.
Supermicro's fortunes changed dramatically when its partnership with Nvidia brought about exponentially higher sales of AI-capable servers. This helped lead to the AI stock rising by over 3,500% over the last five years. Admittedly, another 3,500% increase in the next five years is unlikely, but the stock can probably generate market-beating returns during that time. Here's why.
The state of Supermicro
The most surprising things about Supermicro are its longtime obscurity and meteoric rise to prominence. The company describes itself as a "rack-scale total IT solutions provider" that creates environmentally friendly and energy-saving machinery.
It produces first-to-market hardware for the edge, 5G, data centers, the cloud, and AI in approximately 6 million square feet of manufacturing space. Moreover, it operates in more than 100 countries, meaning it built an extensive footprint despite receiving little attention from investors until recently.
The company's growth has now become too significant for investors to ignore. In the first nine months of fiscal 2024 (ended March 31), it reported $9.6 billion in revenue, a 95% yearly increase. With that, net income surged to $855 million compared with $446 million in the same year-ago period.
Where Supermicro is going
Additionally, its rapid growth is on track to continue. Markets.us estimates the compound annual growth rate (CAGR) for the AI server industry will exceed 30% through 2033.
Fortunately for Supermicro's shareholders, company estimates far exceed that rapidly growing industry CAGR. In the most recent earnings report, the company raised its fiscal 2024 revenue guidance to $14.7 billion, which would mean a 107% growth rate if revenue levels match the company estimate.
As for the stock, it has risen by almost 130% over the last year. Still, nearly all of that growth occurred in the first three months of the calendar year, and the stock has pulled back by more than 40% since peaking in March.
However, that price correction could dramatically increase Supermicro's odds of outperforming the indexes. Its P/E ratio had reached 90 as its stock peaked. Now, with rising profits and falling stock prices, the earnings multiple has dropped to 39. Its PEG ratio of just 0.6 confirms that its P/E ratio is at a very low level, considering the rapid growth of its profits.
Furthermore, analysts forecast that Supermicro's net income will grow by an average of 62% per year for the next five years. Admittedly, this is a "way too early" estimate and will likely change significantly as more information becomes known. Still, if profits grow at an average close to this estimate, it is likely the rapid growth of Supermicro stock will continue.
Supermicro in five years
Although a lot can happen in five years, Supermicro stands a high likelihood of beating the market over that time. As stated before, investors should not expect another 3,500% gain over five years, nor should they expect the company to maintain revenue growth near the triple-digits over the long run.
Nonetheless, the AI servers produced by Supermicro are experiencing unprecedented demand, leading to massive gains in the stock price. Moreover, even if estimates for the future change significantly, both Supermicro and its industry should experience rapid growth rates for years to come.
Additionally, considering the growth rates of the recent past, the 39 P/E ratio and the PEG ratio under 1 arguably make Supermicro a bargain stock. Given its recent pullback, now might be a good time to add shares.
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>>> Where Will Supermicro Stock Be in 5 Years?
by Will Healy
Motley Fool
Jul 31, 2024
https://finance.yahoo.com/news/where-supermicro-stock-5-years-091500517.html
Looking back on Super Micro Computer (NASDAQ: SMCI) five years ago, few likely envisioned it would reach the heights it has today. It has existed since 1993 and has traded as a stock since 2007. Despite building a large, successful business, the company was largely unknown outside its industry and drew little interest from stock investors.
Supermicro's fortunes changed dramatically when its partnership with Nvidia brought about exponentially higher sales of AI-capable servers. This helped lead to the AI stock rising by over 3,500% over the last five years. Admittedly, another 3,500% increase in the next five years is unlikely, but the stock can probably generate market-beating returns during that time. Here's why.
The state of Supermicro
The most surprising things about Supermicro are its longtime obscurity and meteoric rise to prominence. The company describes itself as a "rack-scale total IT solutions provider" that creates environmentally friendly and energy-saving machinery.
It produces first-to-market hardware for the edge, 5G, data centers, the cloud, and AI in approximately 6 million square feet of manufacturing space. Moreover, it operates in more than 100 countries, meaning it built an extensive footprint despite receiving little attention from investors until recently.
The company's growth has now become too significant for investors to ignore. In the first nine months of fiscal 2024 (ended March 31), it reported $9.6 billion in revenue, a 95% yearly increase. With that, net income surged to $855 million compared with $446 million in the same year-ago period.
Where Supermicro is going
Additionally, its rapid growth is on track to continue. Markets.us estimates the compound annual growth rate (CAGR) for the AI server industry will exceed 30% through 2033.
Fortunately for Supermicro's shareholders, company estimates far exceed that rapidly growing industry CAGR. In the most recent earnings report, the company raised its fiscal 2024 revenue guidance to $14.7 billion, which would mean a 107% growth rate if revenue levels match the company estimate.
As for the stock, it has risen by almost 130% over the last year. Still, nearly all of that growth occurred in the first three months of the calendar year, and the stock has pulled back by more than 40% since peaking in March.
However, that price correction could dramatically increase Supermicro's odds of outperforming the indexes. Its P/E ratio had reached 90 as its stock peaked. Now, with rising profits and falling stock prices, the earnings multiple has dropped to 39. Its PEG ratio of just 0.6 confirms that its P/E ratio is at a very low level, considering the rapid growth of its profits.
Furthermore, analysts forecast that Supermicro's net income will grow by an average of 62% per year for the next five years. Admittedly, this is a "way too early" estimate and will likely change significantly as more information becomes known. Still, if profits grow at an average close to this estimate, it is likely the rapid growth of Supermicro stock will continue.
Supermicro in five years
Although a lot can happen in five years, Supermicro stands a high likelihood of beating the market over that time. As stated before, investors should not expect another 3,500% gain over five years, nor should they expect the company to maintain revenue growth near the triple-digits over the long run.
Nonetheless, the AI servers produced by Supermicro are experiencing unprecedented demand, leading to massive gains in the stock price. Moreover, even if estimates for the future change significantly, both Supermicro and its industry should experience rapid growth rates for years to come.
Additionally, considering the growth rates of the recent past, the 39 P/E ratio and the PEG ratio under 1 arguably make Supermicro a bargain stock. Given its recent pullback, now might be a good time to add shares.
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>>> Private equity giant Apollo invests $700 million in Sony Music
Reuters
Jul 26, 2024
https://finance.yahoo.com/news/private-equity-giant-apollo-invests-132347037.html
(Reuters) - Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in "high grade" alternative assets.
Apollo did not reveal the terms of the deal with Sony, which works with artists such as Lil Nas X and Celine Dion.
Booming demand for alternative investments has boosted the appeal of the music industry as investors look beyond traditional assets such as stocks and bonds, making it a popular asset class for Wall Street firms in recent years.
Heavyweights of the financial world are cashing in on the lucrative streaming rights and cash flows the industry offers.
"This investment allows our clients to invest in high grade securities while helping Sony to execute its business plans," said Jamshid Ehsani, a partner at Apollo said on Friday.
Apollo had also backed media and entertainment-focused investment firm HarbourView Equity Partners in 2021.
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>>> Private equity giant Apollo invests $700 million in Sony Music
Reuters
Jul 26, 2024
https://finance.yahoo.com/news/private-equity-giant-apollo-invests-132347037.html
(Reuters) - Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in "high grade" alternative assets.
Apollo did not reveal the terms of the deal with Sony, which works with artists such as Lil Nas X and Celine Dion.
Booming demand for alternative investments has boosted the appeal of the music industry as investors look beyond traditional assets such as stocks and bonds, making it a popular asset class for Wall Street firms in recent years.
Heavyweights of the financial world are cashing in on the lucrative streaming rights and cash flows the industry offers.
"This investment allows our clients to invest in high grade securities while helping Sony to execute its business plans," said Jamshid Ehsani, a partner at Apollo said on Friday.
Apollo had also backed media and entertainment-focused investment firm HarbourView Equity Partners in 2021.
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>>> Private equity giant Apollo invests $700 million in Sony Music
Reuters
Jul 26, 2024
https://finance.yahoo.com/news/private-equity-giant-apollo-invests-132347037.html
(Reuters) - Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in "high grade" alternative assets.
Apollo did not reveal the terms of the deal with Sony, which works with artists such as Lil Nas X and Celine Dion.
Booming demand for alternative investments has boosted the appeal of the music industry as investors look beyond traditional assets such as stocks and bonds, making it a popular asset class for Wall Street firms in recent years.
Heavyweights of the financial world are cashing in on the lucrative streaming rights and cash flows the industry offers.
"This investment allows our clients to invest in high grade securities while helping Sony to execute its business plans," said Jamshid Ehsani, a partner at Apollo said on Friday.
Apollo had also backed media and entertainment-focused investment firm HarbourView Equity Partners in 2021.
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Wine - >>> This NFL Legend Has Built A Wine Empire, Calls It Fun But Not Easy
Benzinga
by Deidre Woollard
Jul 31, 2024
https://finance.yahoo.com/news/nfl-legend-built-wine-empire-110008283.html
This NFL Legend Has Built A Wine Empire, Calls It Fun But Not Easy
Not every football player leaves the NFL and finds their footing in an entirely different business. In fact, many NFL players lose much of their wealth in the years after retirement. Drew Bledsoe, a number one draft pick and the former quarterback for the New England Patriots, is one who has managed to have a fantastic second act in a field that many of us dream of getting into: the wine business.
In an interview with Jason Raznick on The Raz Report podcast, Bledsoe explained that he didn't venture into entrepreneurship until he retired but credits having good financial advisors along the way for "not letting me do anything super stupid" and saying no to him frequently. Once he retired, Bledsoe and his wife Maura decided to pursue their dream. In 2007, they returned to his hometown of Walla Walla, Washington and purchased land in the Walla Walla American Viticultural Area (AVA). They partnered with winemaker Josh McDaniels and focused on growing cabernet sauvignon. Since that initial investment, they have expanded their winery to include five estate vineyards in the Walla Walla Valley.
The Power Of Persistence
After the initial success with Doubleback, the Bledsoes expanded, creating two more labels under the Bledsoe Wine Estates brand. The Bledsoe Family Winery produces accessible varietals, while the Bledsoe|McDaniels Winery was established to offer their version of the Willamette Valley's Pinot Noir. They also expanded into homegrown Syrah, with these limited-production wines available to wine list members.
Bledsoe describes the journey to success in the wine industry as fun but challenging. "It's been super rewarding to see something grow from a single vineyard that we planted with our hands to a company that has 70 employees and over 450 acres of vineyards," he said.
Like any type of investment, investing in the wine business requires time and patience. "Sometimes you are talking a decade before you get to see the literal fruits of your labors," Bledsoe added. Unlike football, where results are immediate, the wine industry requires long-term commitment and resilience.
Bledsoe sees parallels between being a quarterback and owning a business, citing skills such as planning, executing decisions, building a team, and dealing with adversity as lessons.
In addition to his winery businesses in Washington, Bledsoe has invested in real estate in Whitefish, Montana. He describes the market as rapidly growing since he first discovered it in 1996. Speaking about his home, he said it's one of his better investments but one that he will never realize because then he would have to sell, move, and find another house. He said he has dabbled in real estate, with some good and bad outcomes.
When it comes to investing, Bledsoe has primarily left stock investments to his financial advisors, giving him time to devote to what he knows best. Investing in wineries can be a tough business. As Bledsoe mentioned, it's a luxury business that is very tied to the strength of the economy and the vicissitudes of Mother Nature. It also requires tremendous capital and knowledge, both of which Bledsoe has as he focuses on building a wine empire for the long haul.
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>>> This NFL Legend Has Built A Wine Empire, Calls It Fun But Not Easy
Benzinga
by Deidre Woollard
Jul 31, 2024
https://finance.yahoo.com/news/nfl-legend-built-wine-empire-110008283.html
This NFL Legend Has Built A Wine Empire, Calls It Fun But Not Easy
Not every football player leaves the NFL and finds their footing in an entirely different business. In fact, many NFL players lose much of their wealth in the years after retirement. Drew Bledsoe, a number one draft pick and the former quarterback for the New England Patriots, is one who has managed to have a fantastic second act in a field that many of us dream of getting into: the wine business.
In an interview with Jason Raznick on The Raz Report podcast, Bledsoe explained that he didn't venture into entrepreneurship until he retired but credits having good financial advisors along the way for "not letting me do anything super stupid" and saying no to him frequently. Once he retired, Bledsoe and his wife Maura decided to pursue their dream. In 2007, they returned to his hometown of Walla Walla, Washington and purchased land in the Walla Walla American Viticultural Area (AVA). They partnered with winemaker Josh McDaniels and focused on growing cabernet sauvignon. Since that initial investment, they have expanded their winery to include five estate vineyards in the Walla Walla Valley.
The Power Of Persistence
After the initial success with Doubleback, the Bledsoes expanded, creating two more labels under the Bledsoe Wine Estates brand. The Bledsoe Family Winery produces accessible varietals, while the Bledsoe|McDaniels Winery was established to offer their version of the Willamette Valley's Pinot Noir. They also expanded into homegrown Syrah, with these limited-production wines available to wine list members.
Bledsoe describes the journey to success in the wine industry as fun but challenging. "It's been super rewarding to see something grow from a single vineyard that we planted with our hands to a company that has 70 employees and over 450 acres of vineyards," he said.
Like any type of investment, investing in the wine business requires time and patience. "Sometimes you are talking a decade before you get to see the literal fruits of your labors," Bledsoe added. Unlike football, where results are immediate, the wine industry requires long-term commitment and resilience.
Bledsoe sees parallels between being a quarterback and owning a business, citing skills such as planning, executing decisions, building a team, and dealing with adversity as lessons.
In addition to his winery businesses in Washington, Bledsoe has invested in real estate in Whitefish, Montana. He describes the market as rapidly growing since he first discovered it in 1996. Speaking about his home, he said it's one of his better investments but one that he will never realize because then he would have to sell, move, and find another house. He said he has dabbled in real estate, with some good and bad outcomes.
When it comes to investing, Bledsoe has primarily left stock investments to his financial advisors, giving him time to devote to what he knows best. Investing in wineries can be a tough business. As Bledsoe mentioned, it's a luxury business that is very tied to the strength of the economy and the vicissitudes of Mother Nature. It also requires tremendous capital and knowledge, both of which Bledsoe has as he focuses on building a wine empire for the long haul.
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